Asset Classification

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Definitions
Asset Classification
Asset Classification Balance Sheet Financial Reporting Fixed Assets Current Assets FRS 102 Companies Act Accounting Standards
Asset classification refers to the systematic categorization of assets on a balance sheet, distinguishing between fixed and current assets as mandated by the Companies Act and Financial Reporting Standard (FRS 102) in the UK and Republic of Ireland.
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Definitions
Cost Segregation
Cost Segregation Depreciation Federal Tax Asset Classification Tax Savings Engineering Analysis Property Accounting Business Taxation
Cost segregation is the process of accurately classifying assets for federal tax depreciation, which can result in significant tax savings for businesses. This process involves a professional and supportable analysis of the property to separate faster depreciable assets.
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